“Cash flow” is still the biggest single factor as to why most businesses fail, so it is important that your credit management is operated soundly and includes:

A proper credit policy
It is essential to check people/businesses out before taking risks. Credit checks and company searches can be undertaken and for more info on these services and costs please contact creditcheck@debtcollect.co.uk

Know your customer
It is imperative that you know whether you are dealing with a sole trader, a partnership, a limited company, or even a charitable organisation. Invoicing a trading name is still common practice and is not recommended.

Educate your staff
All of your employees should be well versed in the art of proper telephone techniques and record-keeping. Key personnel should also know about debt recovery and county court procedures. Jack Russell offer seminars and workshops, either for a group or 1 to 1 on all of these topics and for further information please contact us at seminars@debtcollect.co.uk

Time structure
Follow a defined and proper structure regarding the chasing of your Invoices. It is always wise to have a debt collection agency like ours ready to be involved particularly with any debt or invoice over 60 days old. Leaving it longer could be fatal and result in non-payment due to bankruptcy or your customer absconding. We do offer a tracing service through our sister company, Jack Russell Investigators